The five cities were all ranked highly due to them having
"sizeable corporate and overseas visitor markets with strong
outlook in terms of GDP and employment growth" in conjunction with
constrained stock levels relative to their overnight visitor
market.

According to Savills, €416.5 million was invested into Europe's
extended stay sector in 2015, a year-on-year increase of 32.9 per
cent.

Of this money, 90 per cent was invested into the UK, with Germany
(seven per cent), Switzerland (two per cent) and Belgium (one per
cent) at the forefront of activity.

Commercial research director at Savills, Marie Hickey said: "We anticipate
that evolving consumer trends of millennial business travellers and
the success of AirBnB in highlighting alternative accommodation
options, such as extended stay, across Europe will help the sector
further tap into existing unmet demand."